Today's VC Industry Trends looks into venture funding for Asian e-commerce startups.
All figures are based on Crunchbase data and all graphs are my own.
Today's issue was inspired by the recent drama surrounding the Ant Group, which was spun off by Alibaba, the largest Asian e-commerce company to date. At the same time, another major player, Pinduoduo, is apparently outfitting itself with a $5.6B injection to try to take a larger piece of that pie.
While it would seem that the field is dominated by massive players, the numbers below tell a different story, at least at the VC funding level. As opposed to just about every sector I look at, the number of rounds per quarter had been rising since 2018. Of course, the pandemic put a stop to that, but the increased interest in online shopping should correct the downturn. Simultaneously, the average round began falling after reaching almost $140M in Q3 2017.
That high point was due to a single series C round, which brought...